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NBC
Jan 6, 2013 8:00am PST
quote size of our economy, which makes us look a lot like greece. this administration has driven spending as a percentage of our economy from 21% up to almost 25%. we've resolved the tax issue
FOX News
Jan 5, 2013 10:00am PST
quote deal for so many reasons, especially the fact i think it's harmful to the economy. i guess my point, paul, would be i don't see republicans had much choice. i mean, you talk to john boehner and you talk to mitch mcconnell for six, seven weeks the president would simply not budge one inch on cutting spending and had no interest in doing that. the republicans believed and i think they're probably right if they'd gone into 2013 without the tax issue resolved they'd be pummelled day after
FOX News
Jan 5, 2013 11:00am PST
deal and i don't like the spinach reference. how much damage is there to the economy from in bill? >> well, i prefer the least rotten apple thanh. i think that the two big problems here, people who believe that the rich should pay more do not understand the effects of marginal rates. when you raise marginal rates-- >> the next dollar of income that you earn. >> right, it lowers the incentive of the people that you want it take risk and to innovate and to create. that's one problem. so it will affect the growth of the economy. the other problem is, it does affect tax revenues. the guys with the green eye shades say well if we raise the taxes this much, we'll get this much more revenue. if you lower the incentive of people to take risk, generally what happens, revenue does not come in. >> paul: you don't get as much as you think you'll do. >> exactly. >> here, mary, look, the economy seemed, the stock market loved it, the hs blew out the next day and up based on the prospect that something would get done. housing markets recovering. i mean, the economy, the job market not great stil
FOX News
Jan 12, 2013 7:00am PST
happy about that. >> less money in my pocket and less money i spend, less money in the economy. so are they right? does this new payroll tax hike mean less spending and a weaker economy? hi, everyone, i'm brenda buttner, this is bulls and bears, here they are, the bulls and bears this week, gary b smith, tobin smith, jonas max ferris along with walker stableton and steffen, gary b. it turns out not just the rich, but the payroll tax hike smacking just about all workers, will it smack the economy next? >> i don't see how it can't, brenda. the person in that little clip summed it up perfectly. it makes a little bit of a difference and a little bit of a difference times a few hundred million people makes a big difference. it's already been studied by economists, they predict 4 to 500,000 jobs lost, 1/2% lopped off the the gdp. if you look around the studio there, everyone that gets a paycheck, like they said in that little clip, sees less he money. that's less money they were going to spend on groceries, at the drug store, the gas station and that money gets sucked out of the economy,
PBS
Jan 12, 2013 5:00am PST
actually going to hurt the economy." >> but hasn't our economy changed so much since franklin roosevelt simply put people on the government payroll? >> it's, economics, the underlying rules change a lot more slowly than people imagine. people look and they say, "oh, you know, back then they were taking ocean liners and now we fly jet airplanes." or, "back then we didn't have a global economy." actually, we did. it's a little bit fancier now. but the basic rules are not are not much changed. it takes hundreds of years for those to change a whole lot. and this is, i can pretty easily assemble a bunch of headlines from the 1930s and they will sound like they're right out of today's headlines. this is the same kind of animal that we confronted in the '30s. this is depression economics. and the nature of the solution is not really very different now from what it was then. >> what do you mean, depression economics? >> well, two things really. one is, a recession is when the economy's going down. a depression is when the economy is down. so, you know, the u.s. economy was actually expanding th
NBC
Jan 6, 2013 4:00pm PST
labor department says that the economy created 155,000 new jobs for the month. that was slightly below expectations. the unemployment rate stands at 7.8%, which is actually unchanged from november because november was revised upward to 7.8%, as well. well, after a painful and protracted battle in government, president obama signed a compromise bill avoiding the fiscal cliff. it makes the bush era tax cuts permanent except for individualses with incomes over $400,000. it also extends jobless benefits for the long-term unemployed, allows the payroll tax holiday to expire which, by the way, raises social security taxes by 2% for everybody. the measure increases taxes on capital gains and dividends to 20% to those making other than $400,000. reaction from business was fierce. >> it's amazing how the politicians on both sides of the aisle were talking about how the bill to address the fiscal cliff needed to be balanced, and what came out couldn't have been more imbalanced by definition but nothing but tax increases. >> we have to get something within a couple of months because all we
KCSMMHZ
Jan 4, 2013 6:00am PST
the japanese economy. the prime minister says he plans to decide on a fiscal 2013 draft budget within this month. he also confirmed he will submit a large scale supplementary budget to the diet for quick enactment. abe says he wants the two budgets to finance spending seamlessly over the next 15 months to restore a strong economy. he also says the bank of japan should adopt bold monetary policies in close coordination with his government. >> translator: the bank of japan's monetary policy is critically important in terms of foreign exchange rates and in achieving a 2% inflation target. i strongly expect the central bank to act responsibly. >> prime minister abe also spoke about nuclear power. he indicated his government will consider allowing utilities to build new plants. >> translator: the government will go over what we've learned about the nuclear accident and check the progress of nuclear safety technology. i would like to carefully consider whether new plants can be built and it will take a certain amount of time. >> on diplomacy, abe said he'll give top priority to stren
FOX News
Jan 6, 2013 12:00pm PST
there to the economy from this bill? >> i prefer the least rotten apple. [ laughter ] >> i think two big problems here. people who believe that the rich should pay more do not understand the effects of marginal rates. >> dollar of income you earn? >> it lower the incentives that you want people to take risks and to create. the other problem is, it does affect tax revenues. the guys with the green eye shades, if you raise the taxes we'll get this much more in revenue but if you lower the incentive of people to take risks generally that revenue doesn't come in. >> paul: so you don't get as much as you think. mary, the economy seems to be -- the stock market loved this. they blew out the next day and based on the prospect something would get done. how long go market is recovering. the economy and job market still not great, 155,000 new jobs, but the economy does seem to be doing okay. >> i think that is probably okay. the economy will do okay. but when you have an unemployment at 7.8% and really stubbornly not budging, you want to do something that something more for the economy than ju
WHUT
Jan 11, 2013 7:30am EST
economy. >>> welcome to nhk world "newsline." japanese government is following through on its promises to give the economy a shot in the arm. government leaders have agreed on a stimulus package worth $115 billion. they hope to boost growth by 2%. the government will allocate the funds to three areas. more than $40 billion will go to rebuilding after the earthquake and tsunami and to disaster prevention. workers will use the funds repairing infrastructure such as tunnels and bridges. about $35 billion will be spent on measures to ensure security and revitalized communities. and about $35 billion will be spent on driving growth. some of that will support business ventures. other funds will go into promoting joint research projects between universities and companies. stimulus package plus spending by local governments and the private sector will add up to $230 billion. >> translator: governments under the democratic party focused only on redistribution. they didn't make enough effort to increase incomes and expand the economy. i'm determined to change the basic philosophy. i'm going to b
FOX Business
Jan 6, 2013 9:00am EST
silly laws. but don't impact the economy . last year was an election year, we have a small number of regulations that are hitting us. >> you bring up an interesting point. emac, the's new list of regulations that are 77,000 pages was issued on the friday before christmas. trying to get buried in the holidays. >> it was released between april and october. these rules are going to cost the economy 128 billion . that is it one estimate out there. even russian czar said i don't rule russia. my miniczar's do. rich has it right. burrcrats are justifying and creating n rules . and i lk to them. they have to hire tir own burrcrat to dole with the government burrcrats. >> emac said you need new administrators and czars. >> maybe it would add jobs. but it is important to point out regulations are necessary. even governor romney said that . porly -- case in point. oregon is coming out with a law that makes employers not discriminate against unemployed applicants that is it important. we have seen discrimination there. that is good for the economy. >> steve, you can always justify thingings.
PBS
Jan 4, 2013 7:00pm PST
strengthening the japanese economy. the prime minister says he plans to decide on a fiscal 2013 draft budget within this month. he also confirmed he will submit a large scale supplementary budget to the diet for quick enactment. abe says he wants the two budgets to finance spending seamlessly over the next 15 months to restore a strong economy. he also says the bank of japan should adopt bold monetary policies in close coordination with his government. >> translator: the bank of japan's monetary policy is critically important in terms of foreign exchange rates and in achieving a 2% inflation target. i strongly expect the central bank to act responsibly. >> prime minister abe also spoke about nuclear power. he indicated his government will consider allowing utilities to build new plants. >> translator: the government will go over what we've learned about the nuclear accident and check the progress of nuclear safety technology. i would like to carefully consider whether new plants can be built and it will take a certain amount of time. >> on diplomacy, abe said he'll give top priority to stren
CSPAN
Jan 5, 2013 6:20pm EST
-class tax hike that could throw the economy back into a recession. 97% of small businesses will not see their income taxes go up one dime. we maid sure that millions of families will continue to see tax credits. companies will continue to receive tax breaks for the research they do, investments they make, and the clean energy jobs they make. two million americans that are out of work will continue to receive unemployment benefits as long as they are actively looking for a job. we still need to do more to put americans back to work while also putting this country on a path to pay down its debt. our economy can't afford more showdowns on the manufacturing crisis along the way. even as our businesses created two million new jobs last year, including 168,000 jobs last month the dysfunction in congress made consumers less confident. we know there is a path forward. i signed into a law a deaf reduction. this week's action further reduces the deaf -- deficit. i'm willing to do more. i believe we can find more places to cut spending without short-changing things like education, job training, re
CNN
Jan 5, 2013 6:30am PST
the cornerstone of a long-term, healthy economy. so i think that they're playing these sort of political brinkmanship games in washington, but they're not really engaging the biggest issues facing the country. >> i would say the public is equally polarized when you talk about this debt. you say the word entitlement on this show, i get all this hate mail from people that say it's not just about entitlement. why do you want to cut granny out of the equation? it gets very -- is it going to calm down at all or are we in the midst of one budget war after another? >> it's probably the latter. it's very emotional. if we do keep kicking the can down the road, unable to deal with this, the credit rating agencies will inject themselves into this narrative. >> right. no one moves, because we're going to talk more about this in two seconds. we do have to pay bills here and we do have a budget. hold on, everybody. congress has set into stone as much as you can tax rates in america. they still have to come up with a plan to deal with those budget cuts. they also did come up with a plan to de
FOX
Jan 6, 2013 10:00am PST
the ability to pay the bills on time, the consequences for the entire global economy would be catastrophic and far worse than the fiscal cliff. >> john: congressman you advocated going past the debt ceiling deadline. would you advocate. >> i advocate a solution and not a deal it is no wonder that the president doesn't want to debate if i had presided over the four highest annual deficits and increase in the national debt i wouldn't want to talk about the issue either. since the debt ceiling passed 16 months ago. the day after it passed we got a downgrade from s&p . the super committee that chris voted for fell apart like we thought it would . the only scheduled cuts to take place. we suspended them in the fiscal cliff deal. we have yet to cut one dime and now it is time to do it again. stow this is, we have to stop the madness. this is the 18 year old kid on a credit card and instead of cut tupping and putting them on a budget, barak obama said give us another one and harry reid you have to - on >> john: would you support the debt ceiling. >> i don't support not dealing with t
FOX News
Jan 5, 2013 8:00am PST
rules are going to cost the economy 128 billion . that is it one estimate out there. even russian czar said i don't rule russia. my miniczar's do. rich has it right. burrcrats are justifying and creating new rules . and i talk to them. they have to hire their own burrcrat to dole with the government burrcrats. >> emac said you need new administrators and czars. >> maybe it would add jobs. but it is important to point out regulations are necessary. even governor romney said that . porly -- case in point. oregon is coming out with a law that makes employers not discriminate against unemployed applicants that is it important. we have seen discrimination there. that is good for the economy. >> steve, you can always justify thingings. but the bottom line regulations are a tax on business. are they not? >> they are indeed and people who love regulations make it a choice between anarchy and reguleses. in term of job creation and having bankings. i know a midsize bank had to hire a thousand people of compliiance and that means fewer loan officers. regulations are a burden pure and simple
PBS
Jan 3, 2013 5:00pm PST
an injection of 85 billion dollars per month into the u.s. economy including long term bond pressures. the minutes show almost all policymakers expressed concern. the monetary easing could cause inflation. agreement about the interest rate target. they decided to keep it to zero until unemployment falls below 6.5%. tokyo shake prire prices are su. it's at 10,678, gain of 7% from last year's close. just earlier it hit the highest intraday level. investors are buying across the board as the yen is weaker. let's take a look at that. the yen is trading lower against the dollar right at 87.66 to 67. that is right about the lowest level in two years and four five months. traders are more optimistic about the u.s. economy and that's after u.s. lawmakers reached a deal to avert the negative impact from the fiscal cliff. yen selling continues as many traders are expecting the bank of japan to continue more monetary easing measures. the euro yen is quoted at 114.14 to 19. let's look at other markets. south korea's kospi trading lower by half a percent. the bench market index is tradin
PBS
Jan 8, 2013 6:30pm PST
sounds really encouraging to hear that that money is being put to use into our economy. that is refreshing. take so much, clau klaus kleinfeld. thank you so much. c.e.o. klaus kleinfeld. >> tom: still ahead, we go beyond the scoreboard with an unlikely winner in the fiscal cliff debate: nascar racetrack owners. >> tom: today, it was concerns about earnings. last month, it was the fiscal cliff. a year ago, it was europe. the long list of concerns have scared small investors away from the stock market. as a result, many missed out on last year's 13% gain in the s&p 500. suzanne pratt looks tonight at what it might take to turn retail investors into stock shareholders again. >> reporter: where is everybody? we're not talking about the growth in electronic trading that has made the big board's floor seem so lonely. we're talking retail investors, so many of whom have exited the stock market in the last several years. t.d. ameritrade and its c.e.o. fred tomczyk keep close tabs on the psyche of american investors and have a theory. >> i think it's definitely uncertainty and all the ev
PBS
Jan 9, 2013 6:30pm PST
outlook for 2013. he says the u.s. economy will "muddle through," but stocks will hit new all time highs. those are two of his "ten predictions" for 2013. >> so the key, susie, is we're in an environment where stocks continue to climb walls of worry, and the economy continues to muddle through, not similar to last year. last year the economy some days okay, some days not so okay, and the stock market kept climbing that wall of worry. last year stocks were up 16%, s&p 500, and we only need about half that to achieve a new all-time high. i think we'll get there. >> susie: bob, how do markets go higher when the individual investor is out of the picture, so fearful of investing in stocks. do we see the return of the individual this year? >> i wish i could say we're going to see that, susie. but the individuals who own a lot of bonds first need to see bonds going down in price to be willing to sell them to buy stocks. i think we hit a new all-time high without much participation by the individual. it is the corporation itself that has the big burially since the become oof 09. >> susie:
CBS
Jan 9, 2013 7:00pm EST
for 2013. he says the u.s. economy will "muddle through," but stocks will hit new all time highs. those are two of his "ten predictions" for 2013. >> so the key, susie is we're in an environment where stocks continue to climb walls of worry, and the economy continues to muddle through, not similar to last year. last year the economy some days okay some days not so okay, and the stock market kept climbing that wall of worry. last year stocks were up 16%, s&p 500, and we only need about half that to achieve a new all-time high. i think we'll get there. >> susie: bob how do markets go higher when the individual investor is out of the picture so fearful of investing in stocks. do we see the return of the individual this year? >> i wish i could say we're going to see that susie. but the individuals who own a lot of bonds first need to see bonds going down in price to be willing to sell them to buy stocks. i think we hit a new all-time high without much participation by the individual. it is the corporation itself that has the big burially since the become ofof 09. >> susie: you believ
CSPAN
Jan 6, 2013 8:15am EST
the state's economy and etc. political -- its political life. what we have here, again in original binding, is the first printed jewish calendar in north america. it shows, it's a lunar calendar, and it reflects on all the festival days, all the days of significance for a period of decades. and one of the really beautiful things about it is that there's also margin ail ya, there are notes in hebrew throughout this binding. what we have before us now is a photo album, a scrapbook from a rhode islander who americans know better probably even than they know roger williams, and it's a man named elijah hunt rhodes. he never did anything spectacular what he was was a man who went to the civil war and kept an amazing diary and record. and he was discovered by ken ones, and -- ken burns, and he became the model for billy yank in the ken burns civil war series. so we are fortunate enough here to have been given the elijah hunt rhodes collection from his family. and this is one of the wonderful scrapbooks that we have from ely ya hunt rhodes -- elijah hunt rhodes. after he left the war, he b
CSPAN
Jan 5, 2013 7:00am EST
journal" for january 5. the first 45 minutes we want to get your take and outlook on the economy for the year ahead. this comes as the jobs report from yesterday highlights 155,000 jobs added in december. a couple headlines when talking about that report used the word "worried" but other stories suggest a rebound in the stock market and housing industry. with these stories your take on the economy for 2013. specifically, are you worried or optimistic? here is how you can weigh in. by calling. if you want to reach out on social media, you can do so off of twitter. 15 saying worried, 10 optimistic and you can send an e-mail. the headlines were the inspiration for the question. when it comes to economic related matters the "wall street journal" on the jobs record. tepid job growth fuels worry. we will highlight the use of the word "worry." and in "new york times" job creation is still steady despite worry. they talk about the jobs report. turning to wall street and stock market, here is the financial times take, wall street ends at highest level since the financial crisis. other stories
FOX News
Jan 12, 2013 11:00am PST
number, but in a 15 trillion dollar economy, every percent of gdp is a tremendous amount of spending. but tax revenue, the last three years, has been down around 16% of gdp. that's a tremendous gap. and they want to raise taxes to close that gap. >> but part that have reduction, no, normally, it's about 18, 18 1/2, and it's popped up under bill clinton's presidency above 20%, if you have economic growth. the 16% is because the growth-- >> their policies are going to guarantee, in my opinion, 2% growth for a long period of time. they will never get tax revenue back up towards 20%. >> paul: kim, let's talk about another tax that's on the table. dick durbin, the number two democrat in the senate this week said raise the prospect of an energy tax in addition to this and this reflects part of the point that mary made, you can go after the rich under the current tax, but you can't begin to finance the government we have. so ultimately you've got to find new ways to get the revenue. is this energy tax actually going to be a live prospect in the next couple of years? >> oh, they're going to
CNN
Jan 6, 2013 12:00pm PST
way of the economy? >> well you know, ali, you said this, the republicans view this as a good tool to try to discipline spending. i don't think they view this as a good tool. but i think they kind of view this as pain the only tool they have right now to try to get president obama to negotiate on spending cuts. as you quite correctly said, we just live heavied through the first of these cliffs, which was the fiscal cliff. we got by that one. democrats feel they had their day there and they did, they got their tax increase. republicans are still wondering when are we going to get around to reforming these big giant entitlement programs and maybe disciplining spending on the discretion aye side, i think there will be a showdown on the debt ceiling. you may not like it, but i think we may come to the brink again. this issed way washington works now. >> conservative republicans hold themselves up as financially responsible. isn't this an irresponsible thing to do? despite ideological leanings, to not pay bills that we've already run up? >> well i think you gave a nice presentation in t
CNBC
Jan 4, 2013 4:00pm EST
telling us a lot, that we still have an economy that's muddling along. it's our view, even with the deal that came early this week in congress, that we still have a drag on gdp of maybe 1%, 1.5%, and we're looking at 2% gdp growth in 2012. is that a yes or no, pushes the markets higher? >> yes. we think stocks will have a good year in 2013. >> tim, you agree, i guess, because you liked the jobs report this morning as well? >> i do. added 2 million jobs in each of the last two years and the fiscal cliff legislation behind us. the only thing that concerns me is maes what's the foresight for the u.s. credit rating if we don't get a deficit and budget deal but other than that the economy is very healthy. >> you really care about the credit rating? the last time we had a credit rating downgrade, people bought treasuries like crazy and our interest rates went down dramatically. >> that's right. i think that's a real concern though. i think, that you know, we only have a 60-day moratorium on the sequester, and that's not a lot of time, and the only thing we've really addressed is fixing the tax
FOX Business
Jan 4, 2013 3:00pm EST
investors some confidence that the economy's getting better. a little bit of a trend here. dow jones industrials jumping 32 points, all of the session, down about 15. we have turned that around. s&p 500 gaining in 1465. a key level. don't want to close below 1465, at least for the trader said. the nasdaq, another four points. a great week for the nasdaq. for the week the dow jones industrials, as in the 500 up more than 4%. it's not just the big guys. small caps continuing to roll right along. the russell 2000 rising to yet another record high. day after day here. small caps are rallying. typically a healthy sign for the market. they tend to be riskier given their reliance on the domestic economy. they take the money and make and put it back again. that's why they're called grubs stocks. cyclicals, basic materials and the equipment. also doing some heavy lifting. we decided to pull up the morgan stanley cyclical index. its best levels since july of 2011. investors began to sense that the economy is, perhaps, gaining ahead. also, some big news concerning warren buffett's company, berk
FOX Business
Jan 6, 2013 8:00am EST
raise spending it ends up being a tax on the economy, it keeps the headwinds on the economy, still at 7.8%, if you add in the people that came out of the work force we're more like at 11. it does nothing for nobody because gornment is inefficie inefficient, there is no profit motive and the inefficienes because of that does nothing for the economy going forward. >> brenda: jonas, doesn't it do something? might create some jobs create those electric motor scooters you love so much? >> and it's not just hollywood you can make the case in the long run, running up the deficit can cause a fiscal collapse and crisis that could lead to major recession, but in the short run, jobs 2013, giving the tax credit to make movies in america. if they make the movie in canada wouldn't that create less jobs in the u.s. than making the movie or commercial here. yeah, it's increasing the federal deficit it's same with building nascar race tracks, that you wouldn't have built without credits from the government. it's not a great policy long run, but it will make jobs in the short run. >> you're the only gu
CNN
Jan 5, 2013 4:00am PST
about his support for israel. >>> the economy is ending 2012 on the positive side. december's jobs report is out and is showing more than 1.8 million jobs were added last year. 155,000 of those jobs were added last month. while unemployment remained flat at 7.8%. >>> we solved the fiscal cliff. now the capitol hill confrontations over the debt ceiling are expected to get as intense if not worse. the debt ceiling is the legal limit on the nation's borrowing. in his weekly address the president says he is taking a hard line on the issue. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >>> as you would expect, republicans are also drawing a line despite approving the fiscal cliff compromise. gop lawmak
SFGTV2
Jan 9, 2013 10:00pm PST
we're here because we live in a global cloueconomy. it has altered local economies because so many manufacturing and technology jobs are moving, whether it is a matter of costs for going where the trained work force is. we're fortunate to have to governors here to talk about how that change affects their jobs and what they're doing to jump- start their economies which compete with one another. this could be fun. let me start with our guest. governor hickenlooper. i knew that was going to happen. most of us here are pretty much aware of california's budget crisis. can you give us a quick briefing on where colorado is and what you are trying to do to turn things around? >> our budget is just as dressed as almost every state in the country. we have been working trying to control costs, get our pension funds in line, our state employees have not had a raise in four years. it has been difficult all the way around. the real challenge has been to try and turn public sentiment and get people to recognize it without a strong economy. it will not solve any of these problems. we have been rel
CNBC
Jan 7, 2013 4:00am EST
banks to extend credit and support the economy is relaxed. i think everything is equal. that should support the economy and the growth outlook going into 2013 and 2014. having said that, we don't see this as being the biggest issue and certainly in continental europe and perhaps particularly in the periphery where the growth outlook has been most negative over the last few months and quarters, it probably hasn't been the biggest constraint. so we don't really see it as a game changer either in credit creation or in growth or the prospects. >> it's been suggested we should ripped up basel and start again. do you have any comments on that? >> andy's conversation is one that resinates with those of us who work in the financial industry. we live in a world of great plexty and regulation. having said that, i do also think that the idea of rules can govern a complex gibson, intellectual appealing and problems. we do need to have rules that contain some of the allegations and successes that we saw over the last date. i think right now the key is to get the balance right. but at the same ti
CNBC
Jan 8, 2013 3:00pm EST
liesman with breaking news right now. this is the latest read on the u.s. economy. steve, what can you tell us? >> maria, thanks very much. the federal reserve reporting consumer credit for november, consumers in a borrowing mood with consumer credit rising 7%. non-revolving credit, auto, student loans, up by 9.6% with a big rise in student loans. the federal part of this thing was up pretty strongly, and non-revolving credit was up 1.1%. student loans up by $5 billion to a record $521 billion, and outstanding bank credit card was up by 6 billion as well so banks were not shy about alleged on the credit cards. meanwhile, jeff lacquer, fed president saying growth at 2 it is is what is expected for 2013 but 2014 could be stronger with reduced risk and ending some of the financial uncertainties that have -- that he says hobbled growth in 2012. he repeated his opposition to current fed policy and warned that a big fed balance sheet means that the economy is vulnerable to even small mistakes. maria? >> all right. steve, thank you very much. more -- we've got more breaking news. we'll ge
FOX News
Jan 6, 2013 11:00pm PST
time, the consequences for the entire global economy would be catastrophic. far worse than the impact of a fiscal cliff. >> congressman jordan back in 2011 when we had the debate you advocated going past the debt ceiling deadline saying it wouldn't be such a bad thing. would you advocate that again this year? >> i advocated a solution and not a deal. it is no wonder the president doesn't want to debate this. if i had prosided over the four annual highest deficits in american history, $5 trillion increase in the national debt i probably wouldn't want to talk about the issue either. let's look at the facts. since the debt ceiling agreement passed 16 months ago the day after it passed we got a downgrade from s&p. a week after the market dropped 1300 points. the supercommittee which chris and so many members voted for fell apart like we all thought it would and the only scheduled cuts that were supposed to take place we just suspended them five days ago in the fiscal cliff deal. we have yet to cut one dime from the last debt ceiling agreement and now here it is time to do it again. we got
PBS
Jan 8, 2013 1:00am PST
at the financial health of the country's banks. >> reporter: the economy may be weak, but the nation's biggest banks are in their best shape in years. >> capital levels now are double, and in some cases triple what they were at the height of the financial crisis. most banks are making money again. most bad loans have been charged off. so overall, the banking sector is in pretty good shape. >> reporter: an increasing number of banks are expected to get the fed's approval to give back more money to shareholders, in the form of higher dividends and stock buybacks. citigroup is expected to get permission for its first share buyback since 2007. >> i think if they get that this time, it will be a clear sign of a positive situation. because suddenly you have what was arguably the most impaired surviving bank able to have a share repurchase and increase their dividend. >> reporter: investors have taken note. the k.b.w. bank index is up 4% this year. that's on top of a 30% gain last year. but it's not all smooth sailing for big banks this year. economic growth is far from robust. anoth
ABC
Jan 4, 2013 6:30pm EST
officials suspect he'd been drinking? >>> new jobs. what the experts say the economy is about to do next. >>> real picture. the gritty new video from the us navy warning what can happen if you abuse a dangerous new drug. >>> and mystery man found. an old photo of princess diana with a man in the picture, labelled not to be published. we tracked down the man who had everybody talking. >> good evening on this friday night. as we come on the air, information is still pouring in about what happened to a passenger flight out of minneapolis today. a pilot was arrested after failing a breathalyzer test. suspected of drinking. what made the authorities suspicious? here's abc's lisa stark with the story. >> reporter: it was early morning, the first flight of the day, when the pilot passed through the security checkpoint. as he was waiting for a nearby elevator, a tsa agent and other officers just happened to walk by and just happened to smell alcohol. as the pilot headed in the cockpit of his american eagle regional jet the worried officers notified airport police. they caught up with the 48-year
CBS
Jan 4, 2013 7:00pm EST
were spread throughout the economy. still, there is little optimism hiring will gain much momentum this year. suzanne pratt has the story. >> reporter: 153,000-- that's the average number of jobs the economy created every month of last year. while it's not an awful, it's not impressive, either. and, for the millions of americans still out of work, the job market remains downright depressing. >> 150,000, it's moderate, it's not strong enough given the size of the hole that we're digging out of with respect to unemployment. >> reporter: the worry now is what wrangling in washington over spending cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less
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